Cavico Corporation (PINKSHEETS: CVCP), is a Vietnamese company working in the fields of infrastructure development, including the construction of hydropower facilities, dams, bridges, roads and urban buildings throughout Vietnam and the Pacific Rim. Cavico Corporation Vietnam currently employs over 3,000 people working in the fields of infrastructure construction. This includes construction of roads, bridges and underground works. Currently the company is investing into hydropower and cement production plants in Vietnam.
Founded in 2000 with an initial capital investment of VND 60 billion (equivalent to US $4 million) Cavico has shown rapid growth ranking among the leading companies specializing in infrastructure projects in Vietnam. Together with other state-owned corporations Cavico has been awarded construction contracts for many critical hydropower projects in Vietnam. Currently the company has total assets that have grown to over $64 million USD equivalent, consisting mainly of construction equipment from leading firms such as Caterpillar (America) and Atlas Copco (Sweden).
Vietnam, which continues to grow rapidly, is faced with many challenges related to electricity and material resources for construction. The result has been a construction boom, especially the construction of hydropower and cement production plants. This boom has created huge opportunities for construction companies such as Cavico.
Cavico Corporation Vietnam currently employs over 3,000 people working in the fields of infrastructure construction. This includes construction of roads, bridges and underground works. Currently the company is investing into hydropower and cement production plants in Vietnam. Founded in 2000 with an initial capital investment of VND 60 billion (equivalent to US $4 million) Cavico has been growing very fast, ranking among the leading companies specializing in infrastructure projects in Vietnam. Together with other state-owned corporations Cavico has been awarded construction contracts for many critical hydropower projects in Vietnam. Currently the company has total assets that have grown to over $64 million equivalent, consisting mainly of construction equipment from leading firms such as Caterpillar (America) and Atlas Copco (Sweden). Vietnam, which continues to grow rapidly, is faced with many challenges related to electricity and material resources for construction. The result has been a construction boom,especially the construction of hydropower and cement production plants. This boom has created huge opportunities for construction companies such as Cavico.
This past week, the U.S. and Vietnam signed a groundbreaking trade agreement aimed at increasing trade between the two nations that could fast-track Vietnam’s accession into the World Trade Organization (WTO). In an April 2006 Merrill Lynch Investment Strategy Report, Merrill’s analysts commented that Vietnam is, “One of the most dramatic, but underinvested, growth stories in Asia…”
“The growth of the VNINDEX has been nothing short of astounding this year,” commented Timothy Pham, Assistant Secretary for Cavico Corp. “Vietnamese society is quickly adapting Western business practices and working toward creating a stable and accessible financial market for not only its own people, but foreigners as well. This is a significant change from the policies of the not so distant past.” He added, “Privatization of many of Vietnam’s largest companies is coming and foreign investment bankers and brokerages are actively looking for ways to participate in the growth that is, and should continue to occur as the markets mature.”
Please refer to the company’s website at: http://www.cavicovn.com for additional information on the company.
Source:
CVCP — Cavico Corp.
17011 Beach Blvd.
Suite 1230
Huntington Beach, CA 92647
Website: http://www.cavicovn.com
Phone: 714-843-5456
Fax: 714-843-5451“Safe-Harbor” Statement
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including statements regarding potential sales, the success of the company’s business, as well as statements that include the word “believe” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Cavico Corporation to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Cavico Corporation assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when promised, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.
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